Today The Tokio Marine Asset Management Co. Ltd. Lowers Stake in BioMarin Pharmaceutical Inc. (BMRN)

Today The Tokio Marine Asset Management Co. Ltd. Lowers Stake in BioMarin Pharmaceutical Inc. (BMRN)

Tokio Marine Asset Management Co. Ltd. lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 39,118 shares of the company’s stock after selling 2,227 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $3,619,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Mariner Investment Group LLC raised its position in BioMarin Pharmaceutical by 0.3% in the second quarter. Mariner Investment Group LLC now owns 76,872 shares of the company’s stock valued at $5,981,000 after buying an additional 200 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in BioMarin Pharmaceutical by 205.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 177,243 shares of the company’s stock valued at $13,790,000 after buying an additional 119,149 shares during the last quarter. Nordea Investment Management AB raised its position in BioMarin Pharmaceutical by 34.5% in the second quarter. Nordea Investment Management AB now owns 99,717 shares of the company’s stock valued at $7,758,000 after buying an additional 25,600 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in BioMarin Pharmaceutical by 2.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,117 shares of the company’s stock valued at $864,000 after buying an additional 218 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its position in BioMarin Pharmaceutical by 284.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,716 shares of the company’s stock valued at $996,000 after buying an additional 9,405 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 84.21 on Wednesday. The stock has a 50 day moving average price of $85.10 and a 200-day moving average price of $89.93. The firm’s market capitalization is $14.48 billion. BioMarin Pharmaceutical Inc. has a one year low of $62.12 and a one year high of $102.49.

Several research analysts have weighed in on BMRN shares. RBC Capital Markets set a $125.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Sunday, October 30th. Vetr lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $90.22 target price on the stock. in a research report on Monday, November 7th. Credit Suisse Group started coverage on BioMarin Pharmaceutical in a report on Monday. They set an “outperform” rating and a $107.00 price objective on the stock. Cowen and Company set a $150.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, December 9th. Finally, Robert W. Baird set a $115.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Saturday, October 15th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Buy” and a consensus target price of $112.30.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 120,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $81.30, for a total transaction of $9,756,000.00. Following the transaction, the chief executive officer now owns 383,368 shares of the company’s stock, valued at $31,167,818.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Daniel K. Spiegelman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the chief financial officer now directly owns 18,100 shares in the company, valued at approximately $1,629,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 498,487 shares of company stock worth $41,740,622. Company insiders own 2.50% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

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